By
admin
/ August 8, 2019
If you’re overwhelmed by the process of producing a product and turning a concept into a tangible product, simply continue reading to discover an invaluable step by step guide to producing a new product!
1. Find a business mentor, who’ll provide you with valuable advice
It’s a great idea to seek out an experienced business mentor, who’ll be able to help you put together a step by step plan on how to go about turning your designs into tangible, sellable products. As an example, a business mentor will be able to give you advice on finding a manufacturer or on finding the right warehouse space to create your own products.
2. Create a 3D prototype of your 2D design
Once you have a 2D design which you’re happy with, your next step should be able to create a 3D prototype of your design. To see whether there are any changes which you should make before you start to manufacture your first batch of products.
3. Cost out the production of each product which you hope to sell
Your next step should be to divide your production costs associated with your first batch of products with the number of items which you plan to produce, in order to find your cost per product. Next, work out a price point which will allow you to make a sizeable profit on your products. You can also utilize sales in Microsoft Dynamics 365 Business Central to save time and stress.
If you find that your production costs are too high to produce a satisfactory product, it may be necessary to try and decrease your production costs. As an example, you may want to look at finding a cheaper manufacturer or materials to create your products, in order to increase your business’ profits.
4. Figure out whether you plan to sell your product online or in a brick and mortar store
You may decide to sell your product online, in order to reduce your costs or you may be interested in selling your products to a particular demographic in a brick and mortar store. As a third choice, you may be interested in selling your products online as well as in a traditional store, in order to potentially double your business’ profits.
5. Redesign your business’ website
If you plan on selling your products online, it’s essential to boast a professionally designed website.
6. Come up with a cost effective marketing plan
In order to increase your business’ future sales, it’s imperative to come up with a cost effective marketing plan. As an example, you may find that you can reach thousands of potential customers by harnessing the power of social media. Or you may want to advertise on television or in your local newspaper. Just be sure that the marketing strategy which you choose to employ, targets your target audience.
7. Make sure that your products are strategically positioned in your store
If you do plan to sell your business’ products in a traditional store, it’s a great idea to place your new products on a shelf at eye level. Or on a table in the front of your store.
If you follow all 7 of the business tips listed above, you should have no trouble turning your designs into tangible products, that will fly off your shelves.